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Swiss central bank draws flak for abandoning franc-euro cap

PUT IN A BAD LIGHT: The Swiss Business Federation warned that the decision of the SNB (whose building is seen here) would hurt the country's vital export and tourism industries.

PHOTO: REUTERS

Zurich

SWITZERLAND'S central bank came under fire at home and abroad on Friday after scrapping its bid to stop the franc from rising, which wreaked havoc on global markets and bankrupted several foreign-exchange traders.